The authoritarian country is spending billions on international athletics, from Formula 1 to combat sports, to boost its bottom line and image.

Nasr, the long-time chief executive of the $500 billion NEOM mega-project at the heart of Saudi Arabia's drive to diversify away from oil, has departed, NEOM said on Tuesday without giving a reason.

The departure of the longtime CEO marks a major shakeup at Neom, which is a showpiece of Riyadh’s economic ambitions.